The Micro four Thirds crowd don't like Leica very much at the moment

From a practical standpoint - here are 2 reasons that micro 4/3 makes no sense for Leica:

1. (the BIG one) There are already a number of LEICA branded lenses in the u4/3 market - and they are very good. How could Leica come in, and figure out how to sell new lenses for 2-4x the price?

2. Already one sacrifices image control (depth of field) with APS-C - the micro format exacerbates this further. I don't see that fitting into the "essence" philosophy

3. One might imagine there may be certain competitive clauses in their contract with Panasonic that could make this challenging.

But, could you imagine them trying to come into the m4/3 market with a 14-40mm f/3.5-5.6 lens for $1,800? That crosses the crazy line into the ludicrous line.

EDIT: #4. M lens owners would be far less likely to see a 2x crop as an enticing option. There's a mystique with this camera that it is somehow special in its abilities to mount M glass. Losing this perception means losing an advantage.

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From time to time, I point my camera at the right things. This is generally when I forget everything I've learned.